The Malaysian Global Innovation & Creativity Centre (MaGIC) is planning to go public with its database collating information of local tartups to facilitate investors and advisors in identifying potential companies.
MaGIC intends to go live with the database by the end of 2014. It now has an unpublished database of about 50 entrepreneurs.
Although presently targeting only local startups, MaGIC plans to extend the database for the Southeast Asian region.
“We plan to launch this in Malaysia first, and then go into the region as we open up doors to more startups and investors with our Southeast Asia Accelerator Programme,” said MaGIC’s chief executive officer Cheryl Yeoh, noting the programme is set to be launched in the first half of 2015.
Yeoh said there is currently no avenue for investors to refer to or research into startups and entrepreneurs in Malaysia.
“It’s difficult for MaGIC or anyone to help startups when we don’t know who they are and where they are,” Yeoh said during the MaGIC Startup Academy launch on Wednesday. The latter is a platform designed to equip local entrepreneurs with the skills and tools to build companies that can scale regionally and globally.
Among the information startups and entrepreneurs can provide for MaGIC’s database are the company and founders’ background, funds raised, investors and advisors on board, as well as information and photos of the products and the markets they serve.
Meanwhile, some 60 investors will be attending a five-day workshop marathon presented by local and foreign instructors and mentors, to hear over 20 Malaysian startups pitching to raise over MYR1 million ($3.01 million). The event is a supplement to last Wednesday’s launch of the MaGIC Startup Academy.
Yeoh explained: “The academy will be open to the public, and will host workshops all year round, centered around design, technology, and entrepreneurship, as well as events and sharing sessions.”
She added there are huge opportunities for local startups to reach out to big conglomerates like Rocket Internet who are coming into Malaysia and investing a lot to get into the local and regional markets.
“This shows that our market has high growth and huge potential, and entrepreneurs should grab hold of this opportunity and capture the market,” Yeoh said.